Tuesday July 13, 7:09 pm Eastern Time
Company Press Release
JDS Uniphase Announces Preliminary Fourth Quarter and Pro Forma Combined Results
NEPEAN, Ontario & SAN JOSE, Calif.--(BUSINESS WIRE)--July 13, 1999--JDS Uniphase Corporation (Nasdaq:JDSU - news), today announced preliminary results for Uniphase Corporation's fourth quarter ended June 30, 1999.
Subject to final review, audit and confirmation, Uniphase Corporation expects to report sales of $86 to $87 million and a loss of approximately $3.65 per share for the quarter. The loss per share includes a one-time charge of $177 million for acquired in-process research and development resulting from its merger with JDS FITEL, $4 million in intangibles amortization, and $.5 million in restructuring charges related to the merger with JDS FITEL. Excluding such charges, estimated pro forma earnings for the quarter were $0.40 to $0.41 per share.
JDS Uniphase Corporation also announced that estimated pro forma results combining those of JDS FITEL for the quarter ended May 31, 1999 and Uniphase Corporation for the quarter ended June 30, 1999, both periods ending prior to the merger which became effective June 30, 1999. These estimated pro forma combined results of JDS Uniphase Corporation included sales of $188 to $190 million and earnings of $0.45 to $0.46 per share on a diluted basis, after excluding the in-process research and development charges, intangibles amortization and restructuring charges totaling approximately $181 million as described above. The foregoing loss per share and earnings per share amounts do not reflect the previously announced one for one common stock dividend to be effective on July 23, 1999.
JDS Uniphase Corporation is the leading provider of advanced fiberoptic components and modules. These products are sold to leading telecommunications and cable television system providers worldwide. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as ''believes,'' ''expect,'' ''may,'' ''should,'' ''would,'' ''will,'' ''intends,'' ''plans,'' '' estimated,'' ''estimates,'' ''anticipates'' and similar words. Such forward-looking statements include, but are not limited to, statements regarding the expected revenue and earnings per share for the three months ended June 30, 1999 and the pro forma combined results of JDS Uniphase Corporation. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, factors discussed from time to time in reports filed by Uniphase Corporation or JDS Uniphase Corporation with the Securities and Exchange Commission. Actual final and pro forma results for the quarter ended June 30, 1999 could differ materially as a result of a number of factors, including, but not limited to, accounting adjustments made during the closing of the quarter. The forward-looking statements contained in this news release are made as of the date hereof and JDS Uniphase assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
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Contact:
JDS Uniphase Corporation, San Jose
Tony Muller, 408/434-1800
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